Memphis Alumnus Named Interim President

A day after University of Memphis President Shirley Raines announced her plan to retire June 30, the Tennessee Board of Regents named R. Brad Martin as interim president. Martin is a 1976 graduate of the university and a member of its board of visitors. He will begin working with Raines later this month to prepare for his role, the Memphis Business Journal reports. The university said it will begin a search for a permanent president this summer, and plans to have one in place by July 2014. Martin has been an active alumnus of the school, including donating funds for the creation of the Martin Institute for Teaching Excellence and funding a scholarship for students going into the teaching profession. He currently chairs RBM Venture Co., a private investment firm and is the retired chairman and CEO of Saks Inc.